Add juicy red grapes to the bounty of perishable Peruvian imports coming into Savannah’s Garden City Terminal, which boasts a refrigerated cargo infrastructure unmatched at any other East Coast port.

“Savannah currently handles avocados, citrus and sweet onions from Peru,” said Georgia Ports Authority Executive Director Curtis Foltz. “With the introduction of Peruvian red globe grapes, we are now receiving all of the category leaders from Peru.”

The GPA’s massive container terminal now has 104 refrigerated cargo racks plus another 738 plug-ins for containers on chassis. At 24 container slots per rack, it has the on-terminal ability to power a total of 3,234 chilled containers at a time, according to Chris Logan, GPA senior director of trade development for beneficial cargo owner sales.

With more than 830,000 square feet of private cold storage surrounding the port, the GPA and private industry have the infrastructure to support the growing cold cargo business moving through Georgia, Logan said.

That, too, is growing, as existing facilities see the need for expansion. Another 300,000 square feet of private cold storage space is currently under development.

Companies already growing their footprin — or planning to do so in the near future — include:

• Gulf States Cold Storage, currently 155,000 square feet

• Lineage Logistics I, currently 250,000 square feet

• Lineage Logistics II, currently 225,000 square feet

• Nordic Cold storage, currently 200,000 square feet.

The grapes, moved from Andean Sun Produce farms in Ica and Piura, Peru, are part of a U.S. Department of Agriculture program in which citrus fruits, grapes and blueberries are chilled for at least 17 days prior to entry into the U.S. The cold treatment removes potential pests, thus reducing the need for pesticides.

Bringing the fruit into Savannah is a win-win, Foltz said, resulting in a fresher product for end users as well as lower supply chain costs for shippers.

“By landing produce in Savannah, buyers can take advantage of much shorter and faster overland transportation to Atlanta and other major markets across the U.S. Southeast,” he said.

The grapes are grown along the coast of Peru with early varieties grown in the northern part of the country and later-ripening varieties in southern Peru.

“Weather conditions in Peru allow them to grow and harvest grapes throughout the year,” said Edward Villar of Andean Sun Produce. “But because of market needs our season goes from October to December in the north and from January to March in the south.”

Andean Sun Produce, based in Miami, is the U.S. marketing agent under the “Gold Cup” brand on behalf of La Calera and Talsa, two large Peruvian growers of citrus, blue berries, avocados, grapes and mangos. For their trial run on grapes, Atlanta-based produce wholesaler J.J. Jardina brought in the red globe variety, using the Port of Savannah to save time and freight costs.

“It is nice to have only a four-hour truck ride to Atlanta versus a day and half from the Philadelphia ports,” said company spokesman Matt Jardina. “It allows us to get the product into our warehouse more quickly and begin selling the grapes a few days earlier.”

Villar added that Andean Sun plans to move all their varieties of red and green seedless grapes through the port, adding that he is pleased to add Savannah as an entry point for southeastern markets.

“The GPA approached us a few months ago and explained the benefits of working with them,” he said. “They have been very proactive, coordinating with CBP, trucking companies and even customers. Logistics in our business is becoming crucial; the Port of Savannah is a good alternative for us to serve not only our Georgia customers, but other customers in surrounding states.

“We will continue to use the Port of Savannah for our summer citrus season, and we are close to starting with blue berries.”

Villar said the USDA program to allow cold-treated produce to enter through more U.S. ports will relieve congestion at older ports of entry, while shortening the supply chain between producers and final consumers.

“Our goal is to deliver our fruit to our clients faster, fresher and at competitive prices, cutting logistics costs,” he said.

In addition to its location near important Southeast markets, the Port of Savannah also offers efficient on-terminal services, according to Logan.

“We’ve worked with Customs and the USDA to ensure inspection capabilities are all in place so we can offload a vessel, inspect it and get it out in six hours,” he said.

“We’re optimistic that the strong success we’ve had in receiving perishables will only encourage more perishables in the future.”

Senior business reporter Mary Carr Mayle covers the ports for the Savannah Morning News and savannahnow. She can be reached at 912-652-0324 or at mary.mayle@savannahnow.com.

SHIPPING SCHEDULE

Following are the ships expected to call on Georgia Ports Authority’s Garden City and Ocean terminals this week. Schedules are supplied by GPA and are subject to change.

GCT OAKLAND EXPRESS: Today

GCT MAERSK CHICAGO: Today

GCT MAERSK WEYMOUT : Today

GCT RHL AGILITAS : Today

GCT CPO MIAMI:Today

GCT EVER SUMMIT: Today

GCT MSC GENEVA : Today

OT OBERON: Today

GCT NYK DENEB :Saturday

GCT MSC KINGSTON:Saturday

GCT WASHINGTON EXPRESS:Saturday

GCT PHILADELPHIA EXPRESS:Saturday

GCT STOLT BOBCAT:Saturday

GCT OOCL KOBE:Saturday

GCT TOKYO EXPRESS :Sunday

GCT OOCL TAIPEI: Sunday

GCT COSCO TIANJIN Sunday

GCT HYUNDAI GOODWILL:Monday

GCT MAERSK ATLANTA:Monday

GCT SEA-LAND METEOR:Monday

GCT RIO BLACKWATER:Monday

GCT MED BALTIC:Monday

OT TAMERLANE:Monday

OT CRESTED EAGLE :Monday

CT NYK DELPHINUS: Tuesday

GCT CMA CGM FIGARO:Tuesday

GCT ZIM LUANDA : Tuesday

GCT OOCL SOUTHAMPTON: Tuesday

GCT AMALTHEA:Tuesday

GCT NEVZAT KALKAVAN:Wednesday

GCT HEINRICH SIBUM:Wednesday

GCT CMA CGM JAMAICA:Wednesday

GCT AL KHARJ:Wednesday

GCT HANJIN LOS ANGELES:Wednesday

OT TEIZAN: Wednesday

GCT MOL EXPERIENCE:Thursday

GCT MSC LUISA:Thursday

GCT ZIM SAVANNAH: Thursday

GCT MAERSK KOKURA:Thursday

GCT MSC KLEVEN:Thursday

GCT MSC LUCY:Thursday

OT TARAGO

Children are wonderful, life-altering blessings who also happen to be very costly. Whether you’re a newbie or a pro, we can all agree that parenthood is not cheap. Food, clothes, school — just paying for the basic necessities can be draining.

There is no shame in taking advantage of every coupon and family group rate that comes your way. That same frugal strategy should apply come tax time. There are multiple tax benefits available related to children.

Some are simple and require zero effort to take advantage of, while others involve a bit of planning.

The simplest benefit is the increased personal exemption.

For 2016, taxpayers need only claim the child as a dependent to receive an additional $4,050 exemption per child. This means that a married couple claiming two children reduce their taxable income by $16,200 (four people times $4,050).

There is a phase-out of the exemption that people need to be aware of. For married couples filing jointly, it begins when adjusted gross income exceeds $311,300 ($285,350 for head of household).

The personal exemption is not refundable but reduces the income used to calculate the tax liability. The additional exemption is available as long as the child is claimed as a dependent (which can potentially happen up to age 24). Please seek counsel from your tax adviser in cases of separation, divorce or custody. Special dependency rules will apply in those situations.

Another benefit that requires zero planning is the child tax credit.

Taxpayers receive a $1,000 credit per qualifying child. Phase-out begins when adjusted gross income exceeds $110,000 for married couples filing jointly ($75,000 for head of household).

The tax credit is more beneficial than a deduction because it is a dollar for dollar reduction of the tax liability, and a portion of the credit may be refundable. However, the child tax credit is only available for children under 17.

One benefit that does call for a bit of planning is the child and dependent care credit.

There are some restrictions to this credit, but it can be a good tax break for families who accumulate daycare, nursery school, and/or nanny or housekeeper expenses during the year. The limit is $3,000 for one qualifying dependent, or $6,000 for two or more.

There is no phase-out, but there is a schedule that determines the percent of qualified expenses you can claim based on your adjusted gross income. Dependents have to be under the age of 13 to qualify. In addition, you must have earned income for the entire year, be a full-time student or else pro-rate the credit amount accordingly.

If you are married, this applies to the spouse as well. The credit isn’t limited to custodial care. Expenses can include nursery school, pre-school or similar programs for children below the level of kindergarten.

Housekeeper or nanny expenses can apply, but if they qualify as household employees, you must pay the required payroll taxes.

What may be even better than the credit is if your employer provides dependent care benefits. The benefit can be paid with employee pre-tax earnings (under a salary reduction cafeteria plan), employer contributions or the value of an employer-sponsored daycare facility.

The benefit is excluded from taxable wages, but the amount you can exclude or deduct is limited to the smallest of: the total amount of dependent care benefits you received during the year; the total amount of qualified expenses you incurred during the year; your earned income; your spouse’s earned income; or $5,000 ($2,500 if married filing separately).

You cannot receive a double benefit between the dependent care exclusion and dependent care credit. The dependent care credit is reduced by the amount excluded under a dependent care plan. In addition, expenses paid with pre-tax dollars are not eligible for the credit.

Last, but not least, I wanted to reach out to those who have pondered the idea of adoption, but worry that it is too expensive.

Yes, it can be pricey, however you can receive a huge tax break if you choose to adopt. You may be eligible for tax-free employer benefits of up to $13,460 and also have the potential to receive up to a $13,460 tax credit per adopted child for qualifying expenses.

It is not a refundable credit, but any unused credit can be carried forward for up to five years. There is a phase-out threshold starting when your MAGI (modified adjusted gross income) exceeds $201,920. Eligible children include individuals under the age of 18 (but not the child of your spouse) or those physically or mentally incapable of caring for themselves.

Sam Racz is an intern with Hancock Askew & Co. He can be reached at 912-234-8243 or Sracz@HancockAskew.com.

Growing your business through movies in Savannah

SCORE Sav Savannah will have a workshop from 11:30 a.m. to 1 p.m. March 23, detailing how businesses in the Savannah area can benefit from the film production industry.

The free workshop will be in the SCORE Conference Room, 111 E. Liberty St. Savannah. Resister by calling the SCORE office at 912-652-4435.

The speaker will be William Hammargren, who has worked in the film and television industry since 2002. He began his career in Salt Lake City as a production assistant, producing short documentaries and public service announcements for nonprofits such as the United Way.

He moved to Savannah in 2003 and completed his bachelor’s degree in film and television at SCAD. He has also worked as a freelance producer on many commercial campaigns. Seeing the untapped potential for growth of media production in Savannah, he completed his MBA in 2012 and now works to attract productions to the city,

Collegiate advertising awards go to Savannah Tech

Savannah Technical College earned two gold awards for photography and design, along with a silver for TV/video advertising at the 2015 Collegiate Advertising Awards.

The gold for photography/illustration was awarded to a fire science program photograph taken by Stephen B. Morton, who won a gold award in 2014 for a welding photo and a series of faculty environmental portraits.

The College’s Bistro Savoir Interactif passport, which was given to attendees of Savannah Tech’s 2015 Savannah Food and Wine Festival event, also won gold in the miscellaneous design category. The passport features student portraits by Morton, design by Eric Willis of Fluorescent Design Studio and recipes from the Culinary Institute of Savannah.

Blue Voyage Productions produced a series of “College that Works: commercials that won silver. The series features students in health sciences and precision manufacturing programs. To watch the commercials, go to http://bit.ly/1QKefmJ.

Company renews service contract with Parker’s

TEMPLE, Texas — McLane Company Inc., a supply chain services company that provides grocery and food service supply chain solutions, has renewed a multi-year agreement with Savannah-based Parker’s convenience stores.

“Relationships with our vendor partners are key to the success of our company. McLane continues to go above and beyond to make sure we are able to serve our customer’s needs,” said Brandon Hofmann, chief marketing officer at Parker’s.

McLane’s Premium Ordering Management Suite includes Customer Managed Inventory, which ensures retailers only order replacement products as they are sold, eliminating the need for store managers to manually place orders.

For 44 senior medical students at the Savannah campus of the Mercer University School of Medicine, a time of uncertainty ended at midday Friday during an annual rite of passage known as Match Day.

That’s when they gathered in the Mercer Auditorium, 1250 East 66th St., as part of a nationwide event that serves to tell them what residency programs they will enter after graduation.

As part of the ceremony, each new doctor was handed an envelope that tells them where they will spend their next few years. Students on Friday celebrated the event by dressing as their favorite movie characters.

Mercer University’s School of Medicine was established in 1982 to educate physicians and health professionals to meet the health care needs of rural and medically underserved areas of Georgia.

The school opened a full four-year campus in Savannah in 2008 at Memorial University Medical Center.

Tax season is upon us. It’s time to gather all of those receipts, check and make sure we have all of our documents and schedule an appointment with the accountant.

You may be familiar with filing your personal taxes, but is this your first tax season since initiating or inheriting a trust? If so, you may be unaware how different that can be.

First, there are two types of trusts: a simple trust and a complex trust. The type of trust you have determines whether you are subject to trust taxes.

Simple trusts are not subject to trust taxes. A living revocable trust is a common example of a simple trust that may be used to hold property. A simple trust is required to pay all of its income to the beneficiaries every year thereby eliminating its tax burden.

A complex trust is any trust that retains current income in the trust, distributes principal or makes distributions to charitable organizations. A charitable remainder trust is a common example.

Because complex trusts can accumulate income, they are subject to trust taxes. However, these trusts may deduct expenses, a standard deduction and any income that is distributed to beneficiaries from their taxable income.

The main difference between trust taxes and personal taxes is that the top tax rate of 39.6 percent kicks in at just $12,400 of trust income versus $415,050 for a single filer. And don’t forget the 3.8 percent surtax for that top rate.

In many cases beneficiaries will pay fewer taxes if the trust distributes income annually.

For example, if a single-beneficiary trust earned $15,000 in income and that income is not distributed, the trust would pay $6,510 in taxes. However, if that $15,000 was distributed to a beneficiary that is in the 25 percent tax bracket, the beneficiary would only owe $3,750 in taxes on that income.

How a distribution might affect a beneficiary’s tax bracket should be considered, but the tax liability would be lower for all but the highest bracket.

A trust cannot be taxed twice. So, if the decision is made to not make a distribution one year and the trust pays taxes on that income, it can distribute that income the next year tax free.

Also, although simple trusts must distribute all income annually, the money does not actually have to leave the trust. The beneficiaries must claim the distribution as income on their tax forms but may leave the money to accumulate in the trust.

The tax rates for estates and trusts are unchanged from last year, but the tax brackets for them have been adjusted for inflation so pay close attention when you start filling out your Form 1041.

The new brackets for 2016 are:

• 15 percent bracket: For taxable income of not more than $2,550.

• 25 percent bracket: For taxable income of more than $2,550, but not more than $5,950.

• 28 percent bracket: For taxable income of more than $5,950, but not more than $9,050.

• 33 percent bracket: For taxable income of more than $9,050, but not more than $12,400.

• 39.6 percent bracket: For taxable income of more than $12,400.

A trust, whether simple or complex, can be a great estate planning tool. To find out more, contact a trusted estate planning attorney.

Michael Smith and Richard Barid are co-founders of Savannah-based Smith Barid LLC, which focuses on estate planning, elder law and special needs planning. They can be reached at 912-352-3999 or richard@smithbarid.com or msmith@smithbarid.com.

By Michael Smith and Richard Barid

NAWIC announces March 22 chapter meeting

Coastal Georgia National Association of Women in Construction (NAWIC) will have its monthly chapter meeting at 11:30 a.m. Tuesday upstairs at Savannah Coffee Roasters, 215 W. Liberty St.

Chapter member and attorney Tawny Mack of McCorkle & Johnson, will discuss employment law issues, including covenants not to compete and the Fair Labor Standards Act.

Registration begins at 11:30 a.m., and the meeting will begin at noon. The cost is $20 for members and $30 for guests and includes lunch. RSVP to Candace Forkner at cforkner@pioneersavannah.com.

For more information about NAWIC, go to www.nawiccoastalgeorgia.org or contact Tonya Reed at 912-352-9827.

Parker’s opens new store in Okatie, S.C.

Parker’s convenience stores recently opened a new drive-thru retail location in Okatie, S.C., near the entrance to Callawassie Island.

The location is the company’s 44th convenience store and the 10th in South Carolina.

The new store at Highway 170 and Snake Road features a hot deli serving breakfast, lunch and dinner.

Highlights include a full breakfast bar with eggs, bacon, sausage, cheese grits and biscuits, as well as Southern fried chicken fingers, homemade mac ‘n’ cheese, vegetables and daily specials.

Freshly prepared foods and non-alcoholic retail items are available at the drive-thru window.

The store offers 12 fueling positions.

“We’re thrilled to open our newest store near Callawassie Island, serving a fast-growing customer base in Beaufort County,” said Greg Parker, company president and CEO.

Fundraiser to benefit medicine center’sgarden project

Green Truck Pub, 2430 Habersham St., will host a fundraiser to benefit the Memorial Health University Physicians-Family Medicine Center garden project from 5 to 7 p.m. Wednesday. The event is sponsored by Georgia’s Lowcountry Chapter of the American Herbalists Guild.

Dr. Justin Law is spearheading the raised-bed garden project. He plans to install raised garden beds on the grounds of the Family Medicine Center, located on 66th Street. Vegetables and herbs grown there will be distributed — free of charge — to patients to encourage them to make healthy food choices.

Green Truck Pub will donate $1 for every SweetWater product sold that night, and the restaurant will match up to $500 of the total raised.

CORRECTION: The telephone number to call to reserve a spot in a SCORE Savannah workshop on March 23 on how businesses in the Savannah area can benefit from the film production industry is 912-652-4335. A number published in BiS on Saturday was incorrect.

It’s that scary time of the year again. The tax man cometh and, no matter how well we prepare, most of us find ourselves with at least one question that simply leaves us puzzled.

To help, five tax experts from the Savannah CPA firm of Hancock Askew & Co. volunteered to give up two hours last week during their busiest time of the year to answer our readers’ calls.

Susan Clifford, Billy Griffin, Carolyn McIntosh, Stephen Leonard and Lindsey Little, all certified public accountants, answered questions about everything from retiree tax obligations to Georgia education credits, from health insurance penalties to “taking back” a donation.

“We had a lot of calls from senior citizens and retirees,” Clifford said. “Several wanted to know if they still had to file if they had only Social Security and retirement income.”

Clifford said one caller had been shocked to learn that she and her husband owed “a lot” in taxes, even though he was retired and she was working and had taxes withheld.

“She wanted to know how they could avoid that in the future,” Clifford said, adding that a lot of retirees find themselves in this situation.

The following are answers to that question and others our experts thought would be most helpful to our readers.

Q. I work and have withholding, but my husband is retired and collects a pension and Social Security. There is no withholding from either of those, and we ended up owing tax. What can I do?

A. You have two choices. Your husband can contact the payer of his pension and ask that they begin withholding. He can also contact the Social Security Administration and ask them to withhold. Many people do not realize that they can have withholding from their Social Security.

Q. My mother passed away and we recently sold a piece of land held in the estate. Will there be gain on the sale of the property?

A. Generally, the beneficiary receives a step up in basis equal to the fair market value of the property at the time the decedent dies. For example, if the land held in your mother’s estate was valued at $100,000 at her date of death, then $100,000 becomes your basis. If you sell the property for more than $100,000, then you would report a gain. If you sell for less than $100,000, then you may have a loss.

Q. I over-contributed to my health savings account in 2015. I understand there are taxes and penalties related to excess contributions. Should I just let this ride and pay tax penalties or is there a better option as I file my 2015 income taxes?

A. You may avoid the tax on the excess contribution and the 6 percent penalty if you do one of the following by your tax filing due date, plus extensions (Oct. 15, 2016):

You may either remove the excess contribution from your account or apply it to a subsequent year and the excess contribution will be treated as if you had not contributed it. You may not claim a deduction for the excess contribution and if there is any income earned related to the excess contribution, then that net income will be subject to tax in the year of the distribution. Report the excess contribution on Form 8889, Part II, Line 14b and include it with your 2015 tax return. Please note, you may only apply the contribution to a subsequent year if you qualify to make an HSA contribution in that year.

Q. Can you claim a tax deduction for gifting a car to an individual? If not, can you claim a tax deduction if you donate the car to a charitable organization and request that the charitable organization give the car to the individual?

A. The answer to both of those questions is “no.” You cannot claim a tax deduction for gifts to individuals. You also cannot claim a tax deduction for gifts to charitable organizations if you designate the gift for the benefit of a specific individual.

It is worth noting that there are special rules regarding vehicles donated to charitable organizations. If the organization sells the vehicle without any significant intervening use or material improvement of the vehicle by the organization, the taxpayer’s deduction cannot exceed the gross proceeds received from the sale.

Q. Are there any tax breaks for retirees on the Georgia tax return?

A. Georgia allows subtractions from Georgia income specific to retirees. First, a retirement income exclusion of $35,000 is allowed for taxpayers who are age 62 to 64 and $65,000 if the taxpayer is 65 or older. The exclusion is available for the taxpayer and spouse. However, each must qualify on a separate basis. Both spouses may claim the retirement exclusion if they both qualify. You may also exclude Social Security or railroad retirement (tier 1 and tier 2) that is included in your federal adjusted gross income.

Q. My grandson’s school has mentioned a Georgia education deduction that is directed to the school. Can you tell me more about this?

A. Georgia has created an opportunity for taxpayers to redirect a portion of their Georgia income tax liability towards Georgia private schools. This money is used to provide scholarships to students enrolled in accredited private schools for the first time. The credit is called the Georgia Education Expense Tax Credit.

The amount donated is also treated as a charitable deduction for federal tax purposes. The charitable deduction must be added back to Georgia income as you get a dollar for dollar reduction in tax on your Georgia tax return for the amount contributed.

Single individuals may contribute up to $1,000 and Married Joint Filers up to $2,500. S Corporation shareholders, partners in a partnership and C corporations may also contribute, but those rules are beyond the scope of this question.

Q. I am trying to determine if a relative would qualify for a health coverage exemption on Form 8965. Are there any resources to determine if they are eligible?

A. HealthCare.gov lists the health coverage exemptions and how to apply for each. The exemptions include income-related exemptions, hardship exemptions, health coverage-related exemptions, group membership exemptions and other exemptions. The hardship exemption lists multiple reasons that could apply to individuals, but a hardship exemption form must be completed and mailed to the Health Insurance Marketplace.

HealthCare.gov also provides a questionnaire for individuals to use to find what health coverage exemptions apply to them. The questionnaire can be accessed by going to: www.healthcare.gov/exemptions-tool/#/

Q. If I roll funds over from my 401(k) plan to a Roth IRA, will I have to pay taxes on the rollover?

A. A rollover from your employer retirement plan to a Roth IRA is a taxable event. You would have to pay taxes on what you funded in the account and any earnings. It would be taxed at your normal rate for federal and state purposes. The 10 percent penalty for early withdrawals does not apply to a rollover.

If you were interested in a rollover but not wanting to pay tax, you could do a direct rollover from an employer plan to a regular IRA. The direct rollover would transfer the funds directly and you would not have to pay taxes at the time of the rollover. You would be taxed in the future once you start taking distributions from the IRA.

Q. My spouse and I just purchased a vacation home. Are the mortgage interest and taxes still reported on Schedule A? If we decide to convert it to a rental property, how is that reported and how often can we use it?

A. If the amount of debt for both your primary residence and your vacation home is less than $1 million – $5 million for married filing jointly – then you may take the full amount of mortgage interest on Schedule A. The taxes are also reported on Schedule A.

To convert the property to rental property, your personal use of the property is limited to no more than the greater of 14 days or 10 percent of the number of days rented at fair rental value. The rental activity would then be reported on Schedule E, page 1.

All of the rental income would be reported, but the expenses would be limited to the business use of the property. The personal use portion of the mortgage interest and property taxes on this second property are still deductible on Schedule A, but any other expenses that relate to the personal use of the property would be non-deductible.

Q. I am 62 and retired and collect both a pension and Social Security. What can I earn before I have to worry about part of my Social Security being taken back?

A. In 2016, you can earn $15,720 before Social Security begins to deduct $1 from your benefit payment for every $2 you earn. If this happens to you, your benefit is recalculated when you reach your full retirement age to give you credit for the months your benefits were reduced. The reduction in benefits is not a permanent loss.

Q. I am the executor of an estate. If the decedent had unpaid taxes and the IRS sends a bill after the estate is closed, would the estate still be liable?

A. Yes, and if the estate is closed, the executor would be liable. That is why it is recommended that the executor hold back a percentage of each of the residuary beneficiaries’ share of the estate until he or she is certain all liabilities have been paid.

Q. I opened and closed a foreign bank account during 2015. Do I have to file a return to report that?

A. If you had an aggregate balance of $10,000 or more in foreign accounts at any point during 2015, you must file form Fin CEN 114. This form is filed with the Treasury Department and is due by June 30. The rules for having to file form 8938 are different. You must file if your foreign assets are more than $50,000 on the last day of the year or more than $75,000 at any point during the year, twice those amounts for married couples filing jointly. Form 8938 is filed with your income tax return.

Q. My husband and I are both retired, and I have been told we may not have to file a tax return. Is this true?

A. A married couple who are both 65 or older does not have to file a return if their gross income is less than $23,100 ($11,850 for a single person 65 or older). Gross income does not include Social Security income UNLESS the sum of half of your Social Security benefits plus all other income (including tax exempt interest) exceeds $32,000 ($25,000 if you are 65 or older and single).

Q. We lost our home in a short sale in 2015 because of my disability and the exclusion for the cancellation of residential debt income expired at the end of 2014. Is there any exception for which we might qualify?

A. The good news is that the exclusion was extended for two years (2015 and 2016) when the Consolidated Appropriations Act of 2016 was signed into law.

Average retail gasoline prices in the Savannah area have risen 5.4 cents a gallon in the past week to $1.91 a gallon on Sunday, according to GasBuddy’s daily survey of 262 gas outlets in Savannah.

The national average has increased 4.9 cents a gallon in the last week to $1.98, according to gasoline price website GasBuddy.com.

Prices Sunday in metro Savannah were 36.9 cents ar gallon lower a year ago and are 23.0 cents a gallon higher than a month ago. The national average has increased 27.4 cents a gallon during the last month and stands 44.0 cents lower than one year ago.

According to GasBuddy historical data, gasoline prices on March 21 in Savannah have ranged widely over the last five years:

• $2.28 a gallon in 2015,

• $3.38 a gallon in 2014,

• $3.59 a gallon in 2013,

• $3.80 a gallon in 2012 and

• $3.45 a gallon in 2011.

Prices in the region Sunday include:

• Jacksonville — $1.99 a gallon, up 9.6 cents from last week’s $1.89.

• Augusta — $1.85 a gallon, up 5.6 cents from last week’s $1.79.

• South Carolina — $1.75 a gallon, up 6.0 cents from last week’s $1.69.

“With the U.S. average price of gas closing in on the $2 level, a price not seen since late December, it reflects a real paradox. We see simultaneously both a stark increase – 25 cents per gallon in the past few weeks – and a reminder of how much we’re still saving,” said Gregg Laskoski, senior petroleum analyst with GasBuddy. “Even with the anticipated rise in retail prices to accommodate ‘summer blend’ gasoline regulations and even with a 54 percent increase in crude oil from $26 to $40 for the benchmark West Texas Intermediate (WTI), the national average price of gas today remains some 45 cents lower than where we were exactly one year ago.”

For live fuel price averages, visit http://media.gasbuddy.com.

The Port of Savannah continues to surprise the industry — and delight the Georgia Ports Authority board — with higher-than-anticipated container numbers several new records posted in February.

Container volumes were up 8.1 percent with more than 307,000 TEUs — or twenty-foot container equivalent units — crossing the docks for a new February record, GPA executive director Curtis Foltz told his board meeting on Jekyll Island Monday.

The authority also set a new February record for total tonnage, handling more than 2.67 million tons, representing the seventh-highest monthly total ever recorded.

“Container growth for the first eight months of our fiscal year is up 85,000 TEUs,” Foltz said. “That’s over the 300,000 TEUs — or 23 percent — our volume grew for the same period last year at the height of the West Coast diversions. Candidly, we expected volumes to be down at this point compared to last year.

“We have retained a much higher percentage of that diverted cargo than we anticipated.”

Foltz attributed the growth to two things.

“First, growth in the U.S. economy has retail consumers spending a little more,” he said. “But the main reason, I think, is that this port performed so well last year when other ports were failing. It was something that surprised everyone in the industry.”

While efficient access to market, proximity to major southeast populations and GPA’s ability to quickly expand on-terminal container capacity are a few of the reasons he expects Savannah to continue its successful performance. Foltz said the last three months of the fiscal year, which ends in June, will be down compared to the same months in 2015.

“During that period last year, we served 42 diverted ships,” he said. “There is no way we will duplicate those volumes this year, and that’s fine.

“At the end of the day, the market responded well to GPA’s performance last year. Those who previously hadn’t chosen a southeast gateway are doing so now — and choosing Savannah.”

While exports continue to lag behind imports nationally, GPA board chairman James Walters said the Port of Savannah is pulling its weight.

“Savannah is the third busiest port in the country for the export of containerized goods, behind only Houston and Los Angeles,” he said, adding that Savannah moved nearly 11.8 million tons of containerized exports.

“One out of every 10 tons of containerized U.S. exports goes through Georgia’s ports.”

In other port news, the authority reported:

• Revenue of $29.1 million in February, 7.2 percent favorable to budget and another record for the month;

• Operations and maintenance dredging work in Brunswick harbor began in mid-January, with the U.S. Army Corps of Engineers anticipating bringing the channel’s controlling depth from 32 feet to 37 feet, just shy of its authorized depth of 38 feet.

“Unfortunately, the Corps removed the dredge after only 63 percent of the contracted work was completed due to an emergency on the Mississippi River in Louisiana,” Foltz said, adding that he expected a new controlling depth “in the range of 35 feet once bed leveling is complete.”

• Work continues on the Savannah Harbor Expansion Project, with approximately 11 percent of the entrance channel completed. The contractor for the dissolved oxygen injection system is on site and has begun work with an anticipated completion in mid 2018, and the contract for the new raw water storage impoundment for the city of Savannah has been awarded.

Gas prices in metro Savannah up 5.4 cents

Average retail gasoline prices in the Savannah area have risen 5.4 cents a gallon in the past week to $1.91 a gallon on Sunday, according to GasBuddy’s daily survey of 262 gas outlets in Savannah.

The national average has increased 4.9 cents a gallon in the last week to $1.98, according to gasoline price website GasBuddy.com.

Prices Sunday in metro Savannah were 36.9 cents a gallon lower than a year ago and are 23.0 cents a gallon higher than a month ago. The national average has increased 27.4 cents during the last month and stands 44.0 cents lower than one year ago.

Prices in the region Sunday included:

• Jacksonville — $1.99 a gallon, up 9.6 cents from last week’s $1.89.

• Augusta — $1.85 a gallon, up 5.6 cents from last week’s $1.79.

• South Carolina — $1.75 a gallon, up 6.0 cents from last week’s $1.69.

Savannah anesthesia group sold to Fla. firm

FORT LAUDERDALE, Fla. — MEDNAX Inc. (NYSE:MD) has announced the acquisition of Anesthesia Associates and Lighthouse Anesthesia LLC, collectively known as Lighthouse Anesthesia, a private physician group practice based in Savannah.

Lighthouse Anesthesia has been providing anesthesia care in the southeast Georgia market for more than 60 years. The practice employs 102 full-time clinicians who provide services to St. Joseph’s/Candler, Effingham Hospital and Care Center and 11 ambulatory surgery centers in Georgia and North Carolina.

Lighthouse Anesthesia’s inpatient and outpatient anesthesia services include general surgery, orthopedic, neurosurgery, cardiac, vascular and pediatric.

MEDNAX Inc. is a national medical group, founded in 1979, that provides services through a network of more than 3,300 physicians in all 50 states and Puerto Rico.

Swimming pool firm announces franchisee of the year

MACON — During its annual owners meeting, America’s Swimming Pool Co., ASP, has named Marcus Kuja, owner/operator of its Savannah and Glynn County franchises, as the winner of its franchisee of the year award.

Kuja joined ASP as a general manager for the two franchises. In 2014, he bought out his partners to become the sole owner of both franchise locations.

“Kuja embodies what it is we are doing as a company,” said Stewart Vernon, founder and chief executive officer of ASP. “Everything from the way he keeps his books to how he handles phone calls, and customer service is flawless. I’ve respected him every step along the way.”

Kuja’s franchises were also recognized among those introduced to the President’s Club, which consists of franchises whose earnings exceeded $500,000 in 2015.

Contact Gale Baldwin, Managing Editor/Business Editor at 912-652-0300 or gale.baldwin@savannahnow.com.

The number of businesses on Broughton Street continues to grow with the announcement of three new retail stores, all related to Atlanta developer Ben Carter’s $90 million investment to revitalize the historic downtown corridor.

Modern Trousseau, a bridal boutique, will hold its grand opening at the end of March. Located at 20 E. Broughton St., the store has been in a soft opening phase since February.

The Savannah location will serve as the state’s flagship store and will specialize in couture wedding gowns and accessories by designer Callie Tein.

The Impeccable Pig, a family-owned boutique based in Dallas, will open at 226 W. Broughton St. in June. The store was founded by two sisters in 2002 as a home decor shop, but shifted toward women’s apparel in 2005.

The company now has 19 locations around the Southeast, including stores in Atlanta, Athens and Charleston, S.C.

According to its website, each store is stocked with a diverse selection of women’s clothing that is fashion forward and modestly priced.

Bluemercury, a luxury beauty product and spa retailer, will open in the early fall at 108 W. Broughton St. It will be the second Georgia location for the store, which offers products from Bobbi Brown, Clinique, NARS and other high-end lines along with spa skin care and body care treatments.

Bluemercury also has stores in Atlanta and on King Street in Charleston.

“With the recent store openings on Broughton Street, we’ve seen a definite uptick in foot traffic, and we anticipate the corridor will become even busier with the upcoming tourism season,” Quito Anderson, CEO of Ben Carter Enterprises, said in a news release on Monday.

“We are thrilled to be part of the new excitement and energy on Broughton Street, and we look forward to continuing its historical legacy as Downtown Savannah’s main shopping thoroughfare.”

The new stores join more than a dozen others, including J.Crew, Kendra Scott Jewelry, Beetnix Super Food and Juice Bar and Swedish retailer, H&M as part of Carter’s Broughton Street Collection.

At her Savannah Stopover performance in the North Garden at The Ships of the Sea Maritime Museum earlier this month, Canadian singer-songwriter Lucette rhapsodized about being in Savannah for the first time.

“It’s the most beautiful place I’ve seen in my life,” she said between numbers.

I saw several dozen acts at Stopover this year and have attended the three-day festival for six years, so I can say confidently that her feelings have been widely shared by other participating musicians.

Sure, touring musicians routinely praise their current city from the stage, but you won’t hear so many superlatives.

It’s not just about the exterior beauty of the city, either. Time and again, musicians such as Christopher Paul Stelling, who has performed at Stopover every year, heaped praise on the hospitality and kindness of festival organizers and fans alike.

And those feelings aren’t unique to Stopover. If you attend more than a couple of Savannah Music Festival shows, you’ll almost certainly hear similar over-the-top praise for Savannah.

If you’ve been caught up in the negative public discourse of the last couple of years, it might be worth taking the time to see what Savannah looks like from the eyes of musicians who see many dozens of cities per year.

Misinformation about new parking proposal

I have already written several columns about the city of Savannah’s proposed changes to downtown parking and mobility.

The social media response to the city’s proposals has been overwhelmingly negative. As I write this, almost 3,500 people have signed a Change.org petition against key proposals titled “Savannah raising price of parking meters and charging on weekends.”

Here’s the first sentence of that petition: “The Savannah City Council has recently proposed the idea of raising the price of parking meters located in downtown Savannah to $2.00 an hour and to start charging on weekends from the hours of 10am to 10pm.”

There are several problems with that sentence. The proposal was generated by city staff not by elected council members, the rates would only go to $2 per hour north of Broughton Street, there would be no enforcement on Sundays and there would be enforcement until 10 p.m. on weekdays.

How many of the 3,500 signees know that the first sentence of the petition has essentially four factual errors?

I’ll write about the parking proposals again as the situation warrants, but city officials clearly have a steep climb ahead if they want to win broad public support.

For the record, I think Saturday daytime enforcement of meters is justified, as is raising prices for on-street parking in the highest demand areas. But I do not think we have sufficient demand in most of downtown to extend meter enforcement past 5 p.m. on weekdays.

City Talk appears every Sunday and Tuesday. Bill Dawers can be reached via billdawers@comcast.net. Send mail to 10 E. 32nd St., Savannah, GA 31401.

Although the Federal Open Market Committee voted to keep its interest rate target unchanged last week, Dennis Lockhart, president and CEO of the Federal Reserve Bank of Atlanta, said Monday a hike could be coming in the near future.

“I supported the committee’s decision last Wednesday although I believe further normalization of interest rates will likely be justified this year and possibly relatively soon,” Lockhart told the Rotary Club of Savannah on Monday.

“I felt the patient approach made sense at last week’s meeting.”

The committee, which meets again on April 26 and 27, cited recent global, economic and financial developments as the reason for the decision.

Lockhart, who doesn’t vote on the committee, said he expects the economy to produce moderate growth this year between 2 and 2½ percent. He said a strong 2016 first quarter could make up the losses experienced during the fourth quarter of 2015, when consumer activity eased off considerably.

“An important question we have to deal with is whether we view the fourth quarter of last year as a one-off aberration or a sign of slowing growth,” he said, adding that while it’s still early in the year he remains optimistic.

“So I am reasonably confident the first quarter will represent something of a bounceback from the fourth quarter of last year. Consumer activity has picked up sufficiently since the fourth quarter to support the view that overall domestic demand — the lead driver of the economy — is expanding at a healthy enough pace.”

With the moderate pace of economic expansion in 2016 and a small uptick in labor force participation in February’s employment report, Lockhart expects improved employment conditions to also be on the horizon.

“I take this as an encouraging sign that potential workers previously out of the labor market are being enticed back into the labor force. Their return suggests that slack remains in our economy’s utilization of all potential labor resources, but we’re getting closer and closer to the objective of full employment,” he said.

Lockhart said his overall outlook for 2016 and 2017 hinges on whether domestic demand holds up.

“Arrows on the dashboard of domestic demand are pointing in various directions,” he said, adding that business investment remains solid, but the need to work off inventory could constrain economic expansion in the near future.

“The economy has drawn its strength instead from domestic consumer activity... Short of a big shock that turns consumer psychology on its head, I see no reason why consumer spending growth should not continue.”

Beyond 2017, Lockhart said, other factors will come into play, including an aging workforce.

“As the number of retired seniors expands over the next few decades, the growth rate of the labor force will slow, and the requirements of supporting the non-working population will accelerate,” he said.

“Other things being equal, slower workforce growth will restrain economic growth. Clearly, the nation faces challenges in achieving vigorous growth in the years ahead.”

But in the near future things look positive for Georgia and Savannah’s economies as Lockhart said he expects both to stay on track with national predictions.

“The composition of employment or jobs in the Savannah region is a little different than the country overall, obviously a bit more emphasis on logistics and transportation, so that’s not enough to make Savannah vulnerable in some special way,” he said.

“I see Savannah largely following the path of the national economy.”

United Community board OKs stock buyback

BLAIRSVILLE — United Community Banks’ board of directors has authorized a new stock repurchase program of up to $50 million of its outstanding common shares that may be acquired through Dec. 31, 2017.

United had approximately $9.6 billion in total assets with shareholders’ equity in excess of $1.0 billion as of Dec. 31, 2015.

“The stock buyback plan reaffirms our confidence in the company’s strategy and long-term growth potential and is an appropriate capital management tool to have in place given our strong capital position,” said Jimmy Tallent, United’s chairman and chief executive officer. “It also demonstrates our ongoing commitment to delivering value to our shareholders.”

The actual timing, number and value of shares repurchased under the program will be determined by management at its discretion.

United Community Bank operates in Savannah and in 133 other offices in Georgia, North Carolina, South Carolina and Tennessee.

Savannah IT firm sold to national company

Halski Systems has announced it has acquired Digital Doc, a Savannah-based IT services provider for small businesses and professionals in the region.

Founded in 2007 by Eric Sharpe, the Digital Doc staff will continue to support existing clients as Digi Doc, a division of Halski Systems, according to the announcement.

Sharpe has joined the Halski corporate team as director of marketing and will be responsible for external communications, social media and online content for the company and its subsidiaries.

Sharpe was recognized in 2014 as a Generation NEXT Rising Star by Business in Savannah and Savannah magazine.

Established in 2000, Halski Systems employs more than 50 engineers serving 500-plus customers nationwide.

Cathedral of St. John the Baptist launches new website

United WebWorks, a web development and Internet marketing provider, recently launched a new website for the Cathedral of St. John the Baptist to merge the cathedral’s two existing websites into one e-commerce hub.

“Our church was in search of a local web design company that would guide us through the development journey and provide on-going support and training,” said Catherine Kostilnik, website committee lead at the cathedral. “They helped us create our vision for the new site that surpassed our expectations.”

Officials said the new website was designed with two key goals in mind: to reduce the cathedral’s workload by streamlining forms, ticket and retail sales into a functional e-commerce hub and to grow the cathedral’s parish by increasing their presence to locals and tourists.

Waking up the morning of March 4, Andy Cabistan felt excited and anxious in anticipation of his presentation at FastPitch 2016.

Last year was his debut at the annual event put on by The Creative Coast. This year, Andy was presenting his product-based company, Watson, that “provide(s) high touch, on-site training and consulting to help teams collaborate and communicate more effectively.”

Other pitchers probably had similar feelings as they prepared for their day. A diverse group of companies was pitching at the event, ranging from Katharos Plant Food + Coffee, a vegan concept restaurant/café, to VLASS, a company delivering unmanned humanitarian drones to support victims of civil conflicts or natural disasters.

So what is FastPitch? Have you ever seen “Shark Tank” on TV? That’s essentially FastPitch.

There are a few differences, however. First, FastPitch is separated into three categories: product-based, service-based and student companies. Then the pitchers only get three minutes and a one-pager to describe who they are, what they do and what they want to accomplish.

Can you imagine fitting your passion into a three-minute time slot?

At the end of each presentation, judges ask questions for scoring purposes. Then the next presenter is introduced. It’s a whirlwind of 24 local entrepreneurs pitching their companies and vying for first prize, all squeezed into one day.

While “Shark Tank” focuses solely on investments, FastPitch has broader goals of bringing coaching, awareness and a focus on networking and connections into the mix for participating entrepreneurs.

Does it work? It’s actually too early to tell for this year’s participants. It may take time, and additional work, for the connections started at FastPitch to bear fruit.

A 2015 FastPitch participant secured a $100,000 investment after an article based on a FastPitch participation was published months after the event. At The Creative Coast, such great news happens often enough to confirm those brave souls willing to put their passion on the line do reap rewards.

In addition, FastPitch fulfills an interest from the community to support entrepreneurs. This year’s FastPitch event sold out at nearly 200 tickets, and attendance increased by 100 percent from 2015. A lot of people helped make this event happen, including sponsors, coaches, judges, pitchers and volunteers.

The grand prize winner was Koios, a software-as-a-service company that helps users discover what their local libraries have to offer and helps libraries to develop their collections to bring in more users.

The first runner-up was Intelligent Pathway, an online developmental learning program that adapts to children’s individual needs in grades K-12.

Second runner-up went to My Guardian Angel, a team of Georgia Southern students brainstorming a car seat safety device that alerts parents that a child is still inside the car, preventing serious injuries or death from the heat.

Other winners include second runner-up product-based company OnTheRocks, second runner-up service-based company InfoSecQuote and student company Savannah Kids Code. The audience favorite this year went to FarmTruck912.

The Creative Coast is proud to host FastPitch and be a part of these entrepreneurs’ amazing journeys.

David Zendzian of InfoSecQuote, a FastPitch 2016 contestant and second runner-up in the service-based category, said he would participate in as many of these events as he can.

“What a better avenue to talk with business leaders throughout the country and world than to pitch to them and fellow entrepreneurs in FastPitch events everywhere,” Zendzian said.

In fact, such events are held everywhere. According to Bizplancompetitions.com, a resource dedicated to monitoring and reporting on entrepreneurship contests, more than 260 such competitive business events take place in the United States with more than $22 million of prize money available as entrepreneurial support.

It will be another year before we host FastPitch at The Creative Coast, but it’s only a few days until the weekly 1 Million Cups event and a short time until the FastPitch videos are available on our website. We hope you’ll utilize all our resources to support your entrepreneurial endeavor and that you’ll congratulate the 2016 FastPitch winners and participants when you run into them or take a look at their products and services.

Sabrina Willis is interning with The Creative Coast and will be graduating this semester with a Bachelor of Business Administration degree from South University. Sabrina can be reached at 912-447-8457 or sabrina@thecreativecoast.org.

By Sabrina Willis

World Trade Center Savannah will lead a delegation to Canada in May for an international business-to-business forum focused on generating new relationships and trade opportunities.

The forum, called Centrallia, is set for May 25-27 in Winnipeg, Manitoba. Hosted by World trade Center Winnipeg, Centrallia takes place every two years and provides a unique format for maximizing contacts over the two-plus days, said Leigh Ryan, director of trade services for WTC-Savannah.

“They refer to it in jest as ‘speed dating for business,’” she said. “But that’s exactly what it is. It’s also one of the best-organized events out there, giving those who attend a lot of bang for their buck.”

Cost of the forum, which includes meals, speakers, access to the trade show and a customized meeting schedule, is $1,350 Canadian, which comes to about $1,000. Participants will include more than 700 business decision-makers, not just from Canada but from 30 countries around the globe as well as World Trade Centers, Chamber of Commerce and trade and investment organizations, Ryan said.

“They are CEOs, senior management, executive teams and directors. They will represent manufacturing, transportation and logistics, agribusiness, construction and infrastructure, to name a few,” she said, adding that more than 150 participants from 29 countries had registered before the end of February.

How it works

A company registers and then fills out a detailed profile, not only on its business, but on what it hopes to achieve at the forum, Ryan said.

“Once registration closes, all the businesses that have registered go online and select the companies and organizations they want to meet,” she said. “So, when they arrive at Centrallia, they have an agenda personally tailored for them. They know exactly what their days will look like. There’s no wasted time, no hit and miss.

“Of your 14 guaranteed meetings, you might be meeting with all the companies you’ve requested or with a mix of companies you requested and those that requested you.”

Those initial meetings often lead to follow-up meetings and new opportunities, both geographically and in sectors the company may not have considered, said Mariette Mulaire, president and chief executive officer of World Trade Centre Winnipeg.

In fact, Mulaire said, it’s quite common for companies attending Centrallia to discover that a product or service they have developed can be applied to markets they had never before considered.

“We have had contracts signed right at the event,” she said. “On the other side of the coin, we were getting stories in 2014 of contracts that had been signed from leads established at Centrallia 2010.”

Learning more

To help area businesses decide if Centrallia is for them, the World Trade Center Savannah will host a “lunch and learn” information session from noon – 1:30 p.m. Monday, April 4, at the WTC Savannah building, 131 Hutchinson Island Road.

There is no cost to attend the conference, but registration is required.

“Centrallia is an excellent opportunity to connect with decision-makers, senior executives and growth-oriented companies from Canada and other parts of the world,” Ryan said.

“Past conferences have led to millions in additional investment while generating leads for months and even years after the event.”

IF YOU GO

Centrallia Lunch and Learm

When: noon to 1:30 p.m. Monday, April 4

Where: World Trade Center Savannah, 131 Hutchinson Island Road

To register: contact Jesse Dillon at wtcsavannah.org or 912-447-9704

ON THE WEB

www.wtcsavannah.org

www.centrallia.com

Tommy Bahama to open April 1 on Broughton Street

Savannah’s first Tommy Bahama store, with 2,500 square feet, will open April 1 at 108 West Broughton St.

It will include the Tommy Bahama collection of men’s and women’s sportswear, swimwear, footwear and accessories, as well as home décor items.

The first 25 guests will receive fresh leis from Hawaii along with gift bags. The opening celebration will feature live music from 1 to 5 p.m. Saturday and Sunday as part of the opening celebration.

The store will be open from 10 a.m. to 7 p.m. Monday through Saturday and noon to 7 p.m. Sunday.

Kroger shoppers raising money to fight muscular dystrophy

To help provide support and resources for more than 1.5 million Americans who develop a neuromuscular disease each year, Kroger’s Atlanta Division — including 11 stores in the Savannah area — is inviting customers to support its annual fundraiser for the Muscular Dystrophy Association.

Through April 2, Kroger customers can buy $1 or $5 shamrock icons to help the Atlanta Division reach its goal of raising $300,000. Donations will help the MDA send children to summer camps and provide comprehensive health care, medical equipment, wheelchairs, support services and clinics to those affected by the nearly 40 forms of neuromuscular diseases.

“All customers are encouraged to join us in this year’s shamrock initiative as we look to support the MDA’s mission to help children and adults live longer, fuller lives,” said spokesman Glynn Jenkins.

Since 2001, Atlanta Division stores have raised more than $4.6 million to benefit the MDA. For more information about the MDA, go to www.mda.org.

Entrepreneurial workshops offered on Hilton Head

HILTON HEAD ISLAND, S.C. — The Hilton Head Island Economic Development Corporation is offering a series of workshops to help entrepreneurs create or expand their business. The workshops will be conducted by e2Advisors, a Hilton Head Island-based consulting firm specializing in entrepreneurial programming (www.e2advisors.com).

The first in the series of three workshops, Fundamentals of Entrepreneurship in Five Key Lessons, will be presented from 11:30 a.m. to 1 p.m. March 30 and again from 5 p.m. to 6:30 p.m. April 7. Key topics of the 90-minute workshop include how to define an entrepreneur, how to get started, an overview of creating a business model and business plan as well as pitch basics.

Both sessions will be at the Palmetto Electric Community Room, 111 Mathews Drive, Hilton Head Island. The workshop is free, registration is required at www.hhiedc.com.

The new year has so far been a good one for the Savannah area real estate market.

About 353 homes sold in Bryan, Chatham and Effingham counties in January, about a 4 percent drop from January 2015 but a 54 percent increase compared to 2011, which is the first year data was available, according to Savannah Multi-list Corp.

While 500 is the magic number that local real estate group Savannah Area Realtors aims for each month in terms of sales, January’s or February’s numbers, which came in at 435 homes sold, are not cause for alarm.

“Across the board inventory is lower than 2015. I feel like this could account for January and February 2016 sales being lower then anticipated, but in general they were good strong months. Historically, January and February are lower sales months,” said Trey Niver, president of the Savannah Area Realtors, a local industry group.

Year over year, February was the best on record since 2011, with 435 homes sold in the three-county area.

Compared to last year it’s about a 9 percent increase and a 66 percent increase from 2011 when only 266 homes sold.

In both months, 31419 was the top zip code for unit sales with 58 and 56 homes sold in January and February, respectively. Last month, the Richmond Hill area brought in the most cash with more than $3.5 million in sales.

The Skidaway Island area took the top spot in January with just more than $9.3 million in sales. “Southside as well as West Chatham and Effingham are seeing a lot of increased activity,” Niver said. “For all of us that lived through the downturn and are eagerly waiting and anticipating the ‘selling season,’ may the ending of 2016 be as fabulous as the start.”

The median sale price for January came in at $189,325, a $8,570 decrease from the same time a year ago, but February increased $800 to $180,800 compared to February 2015.

Compared to February 2011 the median price has increased almost $34,000, which is an indication of market recovery and while the market fluctuates, Niver remains optimistic about the rest of 2016.

“If we have learned anything at all about the market since 2006, it’s to throw out our previous trends,” he said. “I hope that January and February are good indicators of a strong year to come.”

BY THE NUMBERS

Top selling zip codes for January

31419 (Southside) 58

31322 (Pooler) 37

31405 (Midtown) 35

31312 (Guyton) 31

31324 (Richmond Hill) 31

Top selling zip codes for February

31419 (Southside) 56

31324 (Richmond Hill) 55

31405 (Midtown) 46

31312 (Guyton) 39

31322 (Pooler) 37

Many economists, policymakers and regulators were surprised by the global financial crisis and ensuing Great Recession. Even more surprising, however, has been the shape of the post-crisis recovery.

Very few envisioned that the job market would take more than six years to recover to pre-recession levels. And who could have imagined that debt-to-GDP ratios of the industrialized world would nearly double, yet long-term borrowing costs for the U.S., Germany and Japan would fall below 2 percent?

Who could have imagined that Central Bank balance sheets would take on trillions of dollars in assets, expanding the money supply to historic levels, yet inflation across the developed world remained well below the 2 percent target rate?

Is this the new normal for U.S. and the industrial world?

These recent market developments are consistent with a hypothesis going back to the 1930s, dubbed secular stagnation. Unlike more traditional boom-and-bust cycles, secular stagnation surrounds issues of insufficient demand for capital-funded investment projects, reflecting a developed-world awash in excess savings, expecting low interest and inflation rates for years to come.

In such a scenario, injections of great swaths of cash by the world’s largest Central Banks into the reserve accounts of commercial banks have, against conventional wisdom, failed to translate into above-target inflation.

Increases in aggregate savings coupled with a decline in capital-intensive investment projects are triggered by a range of factors that have unfolded over time. Widening income inequality, for instance, tends to translate into a greater propensity for savings, as does continued de-leveraging of post-crisis household debt.

Decreases in investment demand are driven by a declining labor force, access to cheaper capital and a rapidly advancing state of information technology. Our current economy tends to preserve capital. Just think about the impact that Amazon and AirBnB have had on capital demand for warehouses and hotel construction, respectively.

What can we do to increase the demand for loanable funds?

I believe there are several viable options. One approach is to increase expected inflation among credit market participants. If individuals expect future prices to increase, they may be more likely to increase spending today.

Moreover, inflation tends to increase credit demand as borrowers pay back less in real terms because of decreased purchasing power from overall price increases. Currently, the U.S. Federal Reserve Bank has a 2 percent inflation target and numerous economists have entertained the idea of increasing this benchmark rate.

Another option is to embark on a large-scale public investment project. Many of the largest U.S. firms with large amounts of cash on hand have opted for increased share buybacks instead of reinvestment into research and development.

And, currently, federal infrastructure investment net of depreciation remains near-zero (even negative) and near historic lows.

The cost of federal borrowing across the industrialized world is also historically low. The 10-year yield on U.S., German and Japanese-issued debt is roughly 2, one-half and 1 percent, respectively.

Monetary policy has lost its teeth, and this relatively attractive policy prescription, for instance, could target much-needed investment areas such as water and highway infrastructure or public transportation.

It would seem reasonable that future generations pay back debt with low costs in a currency they can print than deal with the tremendous deferred maintenance liability of our current infrastructure.

The stakes for utilizing available policy have only increased in recent weeks.

In fact, a proposed balanced-budget amendment, which would drastically decrease the efficacy of fiscal policy and increase the instability of the business cycle as we know it, is currently before Congress.

A mandated annual equality between receipts and expenses would virtually eliminate automatic stabilizers that have decreased the volatility of recessions for decades.

It is well-known that during times of recession social spending on unemployment insurance, for example, rises while national income tends to fall. That is, federal spending and federal receipts inherently increase and decrease, respectively, during economic contractions. This stabilizing feature of our capitalist economy is by design and beneficial if utilized appropriately.

Weighing the costs and benefits of any macroeconomic policy should be a priority for any public official. Current economic times suggest that price deflation and prolonged sluggish growth are the current concerns. Ignoring available policy is even more detrimental as the set of options narrows.

Nicholas Mangee is an assistant professor of economics at Armstrong State University and can be reached at Nicholas.mangee@armstrong.edu.

Metro Savannah’s unemployment rate for February was 5.3 percent, up one-tenth of a percentage point from 5.2 percent in January, the Georgia Department of Labor announced today.

The rate in February 2015 was 6 percent.

The rate rose as the number of unemployed residents increased by 264 as the labor force grew 2,545.

At the same time, the number of jobs in Savannah increased by 2,200, or 1.3 percent, to 174,700 from 172,500 in January. Most of the increase came in professional and business services, retail trade, leisure and hospitality, state and local government, and the goods-producing sector, which includes manufacturing and construction.

Over the year, Savannah gained 7,100 jobs, a 4.2 percent growth rate, up from 167,600 in February 2015. Most of the job gains came in professional and business services, trade, transportation and warehousing, leisure and hospitality, education and health services, manufacturing, and state and local government.

The number of initial claims for unemployment insurance decreased by 329, or 32.1 percent, to 697 in February. Most of the decrease came in manufacturing, accommodations and food services, trade, transportation and warehousing, and administrative and support services. Also, over the year, claims were down by 97, or 12.2 percent, from 794 in February 2015.

Metro Gainesville had the lowest area jobless rate at 4.6 percent, while the Heart of Georgia-Altamaha and River Valley regions had the highest at 7.1 percent.

Meanwhile, Georgia’s seasonally-adjusted unemployment rate for February was 5.4 percent, unchanged from January. It was 6.2 percent in February 2015.